RBI made UDGAM, which stands for “Unclaimed Deposits: Gateway to Access Information,” so that people could look for lost bank accounts. Through this site, it will be easy to find the person who owns leftover money in banks.
UDGAM full form (Unclaimed Deposits: Gateway to Access Information)
What is UDGAM
- A public UDGAM site was launched by the Reserve Bank of India on August 18, 2023.
- Because an inactive account becomes an unclaimed deposit after 10 years, this feature is creative and valuable.
- Banks deposit unclaimed deposits in the RBI-created “Depositor Education and Awareness” (DEA) Fund.
- Check RBI’s UDGAM (Unclaimed Deposits: Gateway to Access Information) for bank unclaimed deposits.
- This platform makes it easier to find unclaimed bank money. One can also track unclaimed bank deposits in their name. This service helps trace unclaimed deposits in numerous banks from one place.
- Register for RBI UDGAM Unclaimed Deposit at udgam.rbi.org.in.
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